In accordance with a public discover printed within the Complement to the Official Journal of the European Union, Ocean Protocol, a Singaporean non-profit basis, was employed to create a decentralized community for Germany’s Bundesbank.
The central financial institution mentioned that the Ocean protocol, which is a challenge of comparatively restricted renown, was chosen largely as a result of they had been the one doable contractor for the job, citing a “lack of comparable opponents.”
Bundesbank detailed in its public discover that the principle objective of the challenge is to arrange a “decentralized community method, which permits individuals a everlasting, symmetrical knowledge entry for the belief of real-time updates of statistics whereas preserving knowledge sovereignty.”
The establishment expects to work hand in hand with the Ocean protocol to construct a platform for securely publishing, transferring, and consuming private and non-private knowledge.
On October 21, Cointelegraph reported that the German central financial institution was contemplating options to a CBDC. It’s doable that this announcement is our first look into what such an alternate may contain.
In July, Ocean protocol introduced that they’d develop a pilot challenge with Mercedes-Benz’ producer, Daimler AG.